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Report
Global Liquefied Natural Gas (LNG) Market Report and Forecast 2024-2032
Market Report I 2024-06-20 I 168 Pages I EMR Inc.
Global Liquefied Natural Gas (LNG) Market Report and Forecast 2024-2032
Market outlook
According to the report by Expert Market Research (EMR), the liquefied natural gas (LNG) market size reached a volume of 4.51 billion barrels in 2023. Aided by the increasing demand for cleaner energy sources and the growing applications of liquefied natural gas in various sectors, the market is projected to further grow at a CAGR of 2.8% between 2024 and 2032 to reach a olume of 5.79 billion barrels by 2032.
Liquefied natural gas is natural gas that has been cooled to a liquid state, at about -162 degrees Celsius, for storage and transportation. Liquefied natural gas is primarily used for power generation, heating, and as a fuel for vehicles. It is considered a cleaner alternative to coal and oil due to its lower carbon emissions.
The increasing demand for cleaner energy sources is driving the liquefied natural gas (LNG) market growth. With the growing awareness of the environmental impacts of fossil fuels, there has been a significant shift towards cleaner alternatives. Liquefied natural gas, with its lower carbon footprint, aligns well with this trend, thereby boosting its demand in various sectors.
Moreover, its expanding applications in various sectors play a significant role in propelling the market. In the power generation sector, liquified natural gas is used as a fuel for gas turbines and combined cycle power plants, which offer higher efficiency and lower emissions compared to coal-fired plants. The transportation sector also benefits from it, as it is used as a fuel for ships, trucks, and buses, providing a cleaner alternative to diesel and gasoline.
The increasing investments in liquefied natural gas infrastructure, including liquefaction plants, regasification terminals, and liquefied natural gas carriers, are further driving the market growth. These investments are aimed at enhancing the supply chain and ensuring its availability to meet the growing demand. The rising trend of liquefied natural gas bunkering, which involves supplying liquefied natural gas to ships for use as fuel, is also contributing to the market growth.
The market is witnessing diverse applications across various sectors, further bolstering its growth. In the power generation sector, it is used as a primary fuel for gas turbines and combined cycle power plants. The higher efficiency and lower emissions of these plants make liquefied natural gas an attractive choice for power generation. The increasing demand for electricity and the need for cleaner energy sources are driving its adoption, consequently driving up the liquefied natural gas (LNG) market share.
In the transportation sector, it is used as a fuel for ships, trucks, and buses. The lower emissions and cost-effectiveness make it a viable alternative to traditional fuels such as diesel and gasoline. The growing emphasis on reducing transportation emissions and the increasing adoption of liquefied natural gas -fuelled vehicles are driving the demand for liquefied natural gas in this sector.
The industrial sector also benefits significantly from it, which is used as a fuel for various industrial processes, including heating, drying, and power generation. The high energy density and cleaner combustion of liquefied natural gas make it a preferred choice for industrial applications. The increasing industrial activities and the need for reliable and cleaner energy sources are driving the adoption of liquefied natural gas in this sector.
As per the liquefied natural gas (LNG) market analysis, in the residential and commercial sectors, it is used for heating, cooking, and hot water supply. The convenience and reliability of liquefied natural gas, along with its lower emissions compared to other fossil fuels, make it an attractive option for residential and commercial applications. The growing urbanization and the increasing demand for energy in residential and commercial buildings are driving the demand for liquefied natural gas in these sectors.
Market Segmentation
The market can be divided based on end use and region
Market Breakup by End Use
- Power
- Transportation
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Europe
Competitive landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global liquefied natural gas (LNG) market. some of the major players explored in the report by expert market research are as follows:
- Shell International B.V.
- Chevron Corporation
- Exxon Mobil Corporation
- Cheniere Energy, Inc.
- Energy Transfer LP
- Freeport LIQUEFIED NATURAL GAS Development, L.P.
- ConocoPhillips Company
- Venture Global LIQUEFIED NATURAL GAS , Inc.
- Sempra Energy
- Petroleo Brasileiro S.A.
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Liquefied Natural Gas (LNG) Market Analysis
8.1 Key Industry Highlights
8.2 Global Liquefied Natural Gas (LNG) Historical Market (2018-2023)
8.3 Global Liquefied Natural Gas (LNG) Market Forecast (2024-2032)
8.4 Global Liquefied Natural Gas (LNG) Market by End Use
8.4.1 Power
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Transportation
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Others
8.5 Global Liquefied Natural Gas (LNG) Production by Region
8.5.1 North America
8.5.1.1 Historical Production (2018-2023)
8.5.1.2 Production Forecast (2024-2032)
8.5.1.3 Leading Producing Countries
8.5.2 Europe
8.5.2.1 Historical Production (2018-2023)
8.5.2.2 Production Forecast (2024-2032)
8.5.2.3 Leading Producing Countries
8.5.3 Asia Pacific
8.5.3.1 Historical Production (2018-2023)
8.5.3.2 Production Forecast (2024-2032)
8.5.3.3 Leading Producing Countries
8.5.4 Latin America
8.5.4.1 Historical Production (2018-2023)
8.5.4.2 Production Forecast (2024-2032)
8.5.4.3 Leading Producing Countries
8.5.5 Middle East and Africa
8.5.5.1 Historical Production (2018-2023)
8.5.5.2 Production Forecast (2024-2032)
8.5.5.3 Leading Producing Countries
8.6 Global Liquefied Natural Gas (LNG) Demand by Region
8.6.1 North America
8.6.1.1 Historical Demand (2018-2023)
8.6.1.2 Forecast Demand (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Demand (2018-2023)
8.6.2.2 Forecast Demand (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Demand (2018-2023)
8.6.3.2 Forecast Demand (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Demand (2018-2023)
8.6.4.2 Forecast Demand (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Demand (2018-2023)
8.6.5.2 Forecast Demand (2024-2032)
9 North America Liquefied Natural Gas (LNG) Demand Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Liquefied Natural Gas (LNG) Demand Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Norway
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Others
11 Asia Pacific Liquefied Natural Gas (LNG) Demand Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Liquefied Natural Gas (LNG) Demand Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Liquefied Natural Gas (LNG) Demand Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis
15.1 Major Exporting Countries
15.1.1 by Value
15.1.2 by Volume
15.2 Major Exporting Countries
15.2.1 by Value
15.2.2 by Volume
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Shell International B.V.
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Chevron Corporation
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Exxon Mobil Corporation
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Cheniere Energy, Inc.
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Energy Transfer LP
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Freeport LNG Development, L.P.
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 ConocoPhillips Company
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Venture Global LNG, Inc.
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Sempra Energy
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 Petroleo Brasileiro S.A.
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Liquefied Natural Gas (LNG) Market: Key Industry Highlights, 2018 and 2032
2. Global Liquefied Natural Gas (LNG) Historical Market: Breakup by End Use (Billion Barrel), 2018-2023
3. Global Liquefied Natural Gas (LNG) Market Forecast: Breakup by End Use (Billion Barrel), 2024-2032
4. Global Liquefied Natural Gas (LNG) Historical Production: Breakup by Region (Billion Barrel), 2018-2023
5. Global Liquefied Natural Gas (LNG) Production Forecast: Breakup by Region (Billion Barrel), 2024-2032
6. Global Liquefied Natural Gas (LNG) Historical Demand: Breakup by Region (Billion Barrel), 2018-2023
7. Global Liquefied Natural Gas (LNG) Demand Forecast: Breakup by Region (Billion Barrel), 2024-2032
8. North America Liquefied Natural Gas (LNG) Historical Market: Breakup by Country (Billion Barrel), 2018-2023
9. North America Liquefied Natural Gas (LNG) Market Forecast: Breakup by Country (Billion Barrel), 2024-2032
10. Europe Liquefied Natural Gas (LNG) Historical Market: Breakup by Country (Billion Barrel), 2018-2023
11. Europe Liquefied Natural Gas (LNG) Market Forecast: Breakup by Country (Billion Barrel), 2024-2032
12. Asia Pacific Liquefied Natural Gas (LNG) Historical Market: Breakup by Country (Billion Barrel), 2018-2023
13. Asia Pacific Liquefied Natural Gas (LNG) Market Forecast: Breakup by Country (Billion Barrel), 2024-2032
14. Latin America Liquefied Natural Gas (LNG) Historical Market: Breakup by Country (Billion Barrel), 2018-2023
15. Latin America Liquefied Natural Gas (LNG) Market Forecast: Breakup by Country (Billion Barrel), 2024-2032
16. Middle East and Africa Liquefied Natural Gas (LNG) Historical Market: Breakup by Country (Billion Barrel), 2018-2023
17. Middle East and Africa Liquefied Natural Gas (LNG) Market Forecast: Breakup by Country (Billion Barrel), 2024-2032
18. Major Exporting Countries by Value
19. Major Importing Countries by Value
20. Major Exporting Countries by Volume
21. Major Importing Countries by Volume
22. Global Liquefied Natural Gas (LNG) Market Structure
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